WAEC - Economics (2018 - No. 1)
Economic problem arise in all society because?
resources are mismanaged by leaders
there is no proper planning
resources are not in adequate supply
the services of economist are not employed
Giải thích
Goods and services that satisfy human wants are produced with the help of resources such as land, labour, capital and enterprise. These resources are scarce while wants are unlimited. Due to scarcity of these resources, an economy cannot produce all that goods and services as required by its citizens.